Happy New Year!
I thought you might like the latest market update to review, see attached Denver Real Estate Market Stats and update below.
The words of the year are Wow and Unbelievable! The Core numbers as we ended 2020 are as follows:
- Extremely Low Inventory at 2,541 Active Listings for Homes, Townhomes & Condos in all of the Metro Denver Area, which is down -49.5% from a year ago!
- Total Closings 62,985 which is up 6.95% from a year ago!
- The Average Price of a Single Family Home at $583,976 which is up 9.06% from a year ago!
- The Average Price of Townhomes & Condos at $379,640 which is up 4% from a year ago.
- A staggering $33 Billion dollars in Volume Closed in 2020, which is up 15.4% from 2019!
Our Inventory has shrunk to ONLY 1,316 Single Family Homes!
- This is a 60.83% decrease from this time in 2020! The average price increase of all Residential homes detached and attached is hovering in the 9% range YTD.
There is no better time to list your home and take advantage of an unprecedented Seller’s Market! With interest rates at all time lows there are opportunities for Buyers as well!
The Average Price that Closed on a Single Family Home in December was $616,895 17.06% higher than December 2019!
The Market is moving differently in certain parts of town, but much of the Buyer demand has been moving in the suburbs, Douglas County, the Foothills and the Luxury Market! Low Interest rates continue to help drive the demand!
Please let me know if you have any questions or would like any more specific information, feel free to forward our market update to everyone you know and spread the word that real estate is open for business!